Rice Hall James & Associates LLC Invests $1.81 Million in Kornit Digital Ltd. (NASDAQ:KRNT)
Rice Hall James & Associates LLC acquired a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) during the second quarter, Holdings Channel reports. The fund acquired 93,726 shares of the industrial products company’s stock, valued at approximately $1,814,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC boosted its position in Kornit Digital by 14.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,910,209 shares of the industrial products company’s stock valued at $36,963,000 after buying an additional 242,177 shares in the last quarter. Sei Investments Co. boosted its position in Kornit Digital by 37.1% in the second quarter. Sei Investments Co. now owns 12,487 shares of the industrial products company’s stock valued at $242,000 after buying an additional 3,376 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in Kornit Digital by 100.2% in the second quarter. Essex Investment Management Co. LLC now owns 303,401 shares of the industrial products company’s stock valued at $5,871,000 after buying an additional 151,875 shares in the last quarter. Lebenthal Lisanti Capital Growth LLC boosted its position in Kornit Digital by 90.0% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 46,857 shares of the industrial products company’s stock valued at $907,000 after buying an additional 22,197 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new position in Kornit Digital during the second quarter valued at $265,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kornit Digital Ltd. (KRNT) opened at 17.40 on Tuesday. The company’s market capitalization is $585.65 million. The firm has a 50 day moving average price of $19.96 and a 200 day moving average price of $18.66. Kornit Digital Ltd. has a 52 week low of $8.90 and a 52 week high of $23.15.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $28.59 million for the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. Equities analysts forecast that Kornit Digital Ltd. will post $0.41 EPS for the current year.
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Several research firms have weighed in on KRNT. BidaskClub cut Kornit Digital from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $24.00 price objective on shares of Kornit Digital in a research report on Tuesday, August 8th. Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Craig Hallum began coverage on Kornit Digital in a research report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Barclays PLC boosted their price objective on Kornit Digital from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.86.
About Kornit Digital
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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